ET News related to HR
(22 Nov’10 to 26 Nov’1o)
SBI employees withdraw proposed
•SBI employees unions have called off two-day
nationwide strike after assurance on increase in wage and
pension from the government.
•Employees have also been assured of an amicable
solution of their other demands like
oPayment of additional pay and allowance
oImprovements in superannuation
oFamily pension on par
oPenalty for error in opening of accounts
oRestoration of erstwhile modular structure involving
posting of DGM at Administrative Units.
•Government has agreed to provide half of the basic pay as
pension based on pay in 2007 instead of 2002.
•Government has assured to revise the wages by 17.50%, for
which a provision of Rs. 289 crore has already been made.
•Hike would benefit 1.7 lakh employees.
•Under the new pension scheme the maximum cap would
likely to be on basic salary of Rs. 31,500 instead of Rs. 21,040
Kingfisher pilots boarding Jet on
•Jet hired about 50 benched pilots from Kingfisher
Airlines as co-pilots.
•First batch of 20 pilots has already joined and the rest
will join shortly.
•Jet also looks to hire some experienced pilots as
commanders from its competitor.
•Poaching is not possible in aviation industry as a no-
objection-certificate is required from the airline whose
employees are being hired by a rival.
•The move is necessitated as Jet is thinking of putting a
bigger aircraft type, A330, as opposed to a smaller Boeing
737 for some of its slots on Mumbai-Delhi route.
•Jet hired pilots from Kingfisher which flies Airbus A320
on domestic routes, to fly its A330, as it requires just a
week’s training for the transition as Airbus operates on
multi-fleet-flying basis as opposed to Boeing’s training
that requires endorsement for each aircraft type.
IDFC mutual fund gets new deputy
•Infrastructure Development Finance Company Limited
Mutual Fund announced the appointment of Kalpen Parekh as
the new deputy CEO.
•Prior to joining IDFC, Parekh was working with Birla Sun
Asset Management Company.
•He has also served in ICICI Prudential AMC.
Taurus makes senior-level
•Taurus Mutual Fund announced that
oJude Abraham have joined as national head of
oDeepali Dholepatil as head of HR and administration.
•Abraham has 10 year experience in mutual fund industry and
joins from L&T.
•Dholepatil also has over 10 year experience and joins from
Dun & Bradstreet.
IOC, ONGC to appoint pros on
•IOC and ONGC will appoint lawyers, chartered accounts, IIT
professors and prominent IT professionals as independent
directors, in the move that will boost corporate governance
after acquiring “Maharatna” status.
• names are yet to be approved by the Appointments
Committee of Cabinet(ACC).
•ACC may approve the appointments by next month.
•The government has empowered boards of ONGC nad IOC to
invest up to Rs. 5,000 crore in a project without its approval,
from previous Rs. 1,000 crore.
•Full strength of IOC and ONGC boards is essential as both
companies are schedule to hit the market with their respective
follow-on public offers.
•As against requirement of 10, the board of IOC has 6